What has Adam Neumann been up to since his WeWork ousting – and can he really buy the company back? The Israeli-American skateboarding billionaire has been compared to Elon Musk and Jeff Bezos

Apr 16 , 2024

Israeli-American billionaire businessman Adam Neumann – who co-founded WeWork in 2010 before being ousted as CEO in 2019 – is trying to buy back the business. Photo: Getty Images

WeWork was once valued at US$47 billion – but its value plunged when, due to multiple controversies, the company’s IPO failed to materialise in 2019, forcing then CEO Neumann to step down

Adam and his wife Rebekah were subjects of the Apple TV+ miniseries WeCrashed, which saw the couple played by Jared Leto and Anne Hathaway; Rebekah is also a cousin of Gwyneth Paltrow

Adam Neumann, the Israeli-American billionaire who co-founded WeWork in 2010 – the famous and controversial company providing coworking spaces in a range of pay-as-you-go options – may have been ousted as CEO in 2019, but now he wants back in.

Adam Neumann, then CEO of WeWork, speaks at the TechCrunch Disrupt event in New York City, in May 2017. Photo: Reuters

Despite a TV series focusing on his flamboyant personality, and his reputation taking a major hit after stories about his unusual leadership style were made public, Neumann has tried to clean up his image. He has started a new business, moved house – and even skateboards. He’s also hanging out with Ivanka Trump and Jared Kushner, their friendship remaining solid despite all of his business trouble.

Here’s what to know about the man who won over Wall Street while – according to former staffers speaking to Vanity Fair – downing shots of Don Julio tequila during meetings.

How did Adam Neumann offer to buy back WeWork?

After leaving WeWork, Adam Neumann started property company Flow Global. Photo: @andresllorente/X

Neumann, 44, was forced out of the company in 2019 after WeWork’s planned initial public offering failed due to a series of controversies. He received an exit payout of US$445 million, per The Guardian. The company filed for chapter 11 bankruptcy in November last year after his departure, with US$2.9 billion of debt.

Now though, despite Neumann’s tumultuous exit, he wants back in. Per The New York Times, the businessman has been working for months to buy back WeWork and has offered to provide the bankruptcy financing needed to keep it afloat. His efforts have so far been unsuccessful, with his lawyers accusing the company’s current owners of stonewalling.

Adam Neumann’s return to business

Adam Neumann speaks at a WeWork event shortly before his 2019 ousting. Photo: @nsfwshirts/Instagram